Anthropic confidentially files IPO prospectus with SEC following soaring valuation

Anthropic has confidentially filed an initial public offering (IPO) prospectus with the Securities and Exchange Commission (SEC), setting the stage for what is expected to be one of the most anticipated share sales among investors looking to gain exposure to artificial intelligence.

With this announcement, Anthropic has moved ahead of rival OpenAI, which is reportedly preparing its own confidential filing. Meanwhile, Elon Musk's SpaceX has also filed its prospectus, is gearing up for a roadshow this week, and plans to make its market debut next week.

Anthropic has noted that it has not yet determined how many shares it will sell or at what price. The announcement comes shortly after the company revealed that it had raised another $65 billion, valuing the firm at $965 billion as per CNN.

Earlier this year, Anthropic was caught in a public dispute with the White House and the Department of Defense over the use of its technology. Its powerful AI model, Mythos, also raised cybersecurity concerns among government officials and on Wall Street. Despite the controversy, Anthropic has continued climbing the ranks of the AI industry and closing the gap with OpenAI. Its latest valuation surpasses the $852 billion valuation that OpenAI reached in March.

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Submitting a confidential prospectus does not place any immediate obligations on Anthropic. The company's public prospectus only needs to be made available to investors at least 15 days before it begins its roadshow. SpaceX, for example, submitted its confidential filing on April 1 and publicly disclosed its prospectus on May 20.

Anthropic's revenue growth has accelerated rapidly over the past few years. The rising figures have reassured investors and executives who feared the company's growth could suffer following its clash with the Department of Defense.

Even after the fallout, Anthropic's popularity within the private sector has continued to grow as more businesses adopted its AI models and coding tools. The company had also, in recent months, sued President Donald Trump.

Anthropic's growth has also led it to sign a deal with rival SpaceX last month to utilize all available compute capacity at the Colossus 1 data center in Memphis, Tennessee. As part of the agreement, Anthropic is expected to pay SpaceX $1.25 billion per month through May 2029, according to details disclosed in SpaceX's prospectus.